Molly Frey wanted to follow in her family’s footsteps by investing in real estate, but it ultimately led to a career change.
Frey moved to Springfield in 2009 to work as a pharmacist, but more recently, she decided to invest in real estate.
“I really wanted to get into property investment – my entire family has been into that my whole life,” she said. After buying some duplexes on Washington Street in December, she asked her real estate agent about a “mansion” she had driven by and seen for sale.
“I went inside and absolutely fell in love,” Frey said of the Pasfield House, 525 S. Pasfield St. The property was being sold by the estate of Tony Leone, the former proprietor who died in February 2021. Leone purchased the property in 1996 and converted it from an apartment complex to a bed-and-breakfast with event space. The Springfield Historic Sites Commission later named him Preservationist of the Year in 2011.
Now, Frey and her 11-year-old daughter are living on site while the property undergoes renovations. “It’s in really good condition on the inside, but the exterior needs work, so that will be the primary focus,” she said. “I’m updating it, making it a little more modern and cozy, plus accessible.”
Assuming renovations progress according to schedule, Frey plans to reopen the Pasfield House in mid-July as a boutique hotel, noting that she will transition it to a bed-and-breakfast once she obtains the necessary licenses. She said she also looks forward to having events.
“It’s something that I absolutely love, throwing parties and being a hostess,” Frey said. “My parents have eight Airbnb properties in Florida, so I’m pretty used to having a lot of people coming and going.”
While Frey is still working one day a week as a pharmacist, she said her primary focus at this point is on reopening the Pasfield House. “It’s a gem; it’s a gorgeous house.”